Tell OMERS: postpone the vote to remove guaranteed indexing

The COVID-19 crisis has impacted us all. It has called us to the frontlines of an unparalleled public health crisis and temporarily, though dramatically, changed our world.

That’s why on March 25th, CUPE Ontario sent the OMERS SC Board a letter requesting the postponement of their planned June vote to remove guaranteed indexing from the pension plan.

Unfortunately, CUPE Ontario has been informed OMERS still plans to go ahead with the vote in June despite the unprecedented public health crisis that is confronting, and rightfully, fully occupying us all.

We think that’s wrong.

OMERS plan members deserve to know that plan changes, which could eliminate future pension benefits, will not be pushed through during an unprecedented public health crisis.

The very least OMERS should do is ensure plan members, Sponsors and the SC Board itself, is able to fully engage, discuss and debate this proposal.

Due to the COVID-19 crisis, this can’t happen. Until such time as it can, this vote should be postpone.